5-13B-60
Section 5-13B-60 Purpose. This division is generally intended to ensure that the laws and regulations
of this state applicable to the ownership and operations of Alabama banks, and interstate
branches in this state of out-of-state banks, do not discriminate against such banks that
are owned or controlled by foreign banks or other foreign persons in a manner inconsistent
with the provisions of Section 3(d) of the Bank Holding Company Act (12 U.S.C. §1842(d)),
as amended effective September 29, 1995, by Section 101 of the Interstate Banking and Branching
Efficiency Act, or with other laws and policies of the United States. (Acts 1995, No. 95-115,
p. 134, §25.)...
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5-3A-4
Section 5-3A-4 Expenses of special examinations. The expenses incidental to any special examination
of banks, bank holding companies, or their affiliates shall be borne by the bank or bank holding
company so examined, and such bank or bank holding company shall, on the call of the superintendent,
pay into the Treasury of Alabama, earmarked for the use of the Banking Department, within
10 days after said examination, an amount not exceeding the actual expenses of such examination,
including per diem, travel expenses and the pro rata portion of the salaries of the state
employees engaged in making such examination. (Acts 1980, No. 80-658, §5-3-4; Act 2011-589,
p. 1306, §1.)...
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40-16-1
Section 40-16-1 Definitions. For the purpose of this chapter, the following terms shall have
the respective meanings ascribed to them by this section: (1) FINANCIAL INSTITUTION. Any person,
firm, corporation, and any legal entity whatsoever doing business in this state as a national
banking association, bank, banking association, trust company, industrial or other loan company
or building and loan association, and such term shall likewise include any other institution
or person employing moneyed capital coming into competition with the business of national
banks, and shall apply to such person or institution regardless of what business form and
whether or not incorporated, whether of issue or not, and by whatsoever authority existing.
The common parent corporation of a controlled group of corporations eligible to elect to file
a consolidated excise tax return, in accordance with Section 40-16-3, shall be considered
a financial institution if such parent corporation is a registered bank...
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5-13B-29
Section 5-13B-29 Notice of subsequent merger, etc. Each out-of-state state bank that has established
and maintains a branch in this state pursuant to this article, or the home state regulator
of such bank, shall give at least 30 days' prior written notice to the superintendent, or,
in the case of an emergency transaction, such shorter notice as is consistent with applicable
state or federal law, of any merger, consolidation, or other transaction that would cause
a change of control with respect to such out-of-state state bank or any bank holding company
that controls such bank, with the result that an application would be required to be filed
pursuant to the federal Change in Bank Control Act of 1978, as amended, 12 U.S.C. §1817(j),
or the federal Bank Holding Company Act of 1956, as amended, 12 U.S.C. §§1841 et seq., or
any successor statutes thereto. (Acts 1995, No. 95-115, p. 134, §21.)...
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5-13B-5
Section 5-13B-5 Required application. (a) A company that proposes to make an acquisition under
this article shall: (1) File with the superintendent a copy of the application that such company
has filed with the responsible federal bank supervisory agency together with such additional
information as the superintendent may prescribe; and (2) Pay to the superintendent the application
fee, if any, prescribed by the superintendent. (b) To the extent consistent with the effective
discharge of the superintendent's responsibilities, the forms established under this article
for application and reporting shall conform to those established by the Board of Governors
of the Federal Reserve System under the Bank Holding Company Act. (c) In connection with an
application received under this article, the superintendent shall require that prior notice
of the application be published one time in a daily newspaper of general circulation and provide
an opportunity for public comment. (d) If the applicant...
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16-33B-1
Section 16-33B-1 Definitions. As used in this chapter, unless the context clearly requires
a different meaning, the following words shall have the following meanings: (1) ACHE. The
Alabama Commission on Higher Education. (2) APPROVED LENDER. Any eligible institution, or
any bank, trust company, savings and loan association, credit union, pension fund, or insurance
company, whose primary consumer credit function is not the making of insured student loans
and which is examined and supervised by the appropriate state or federal regulatory agency
or any other institution or agency defined as an eligible lender in accordance with the Federal
Student Loan Law. (3) ELIGIBLE INSTITUTION. Any postsecondary educational institution which
is approved by the Alabama Commission on Higher Education for the purposes of this program.
However, an institution offering exclusively correspondence, independent study, or home study
courses is not an eligible institution. (4) FEDERAL STUDENT LOAN LAW. Title...
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5-2A-22
Section 5-2A-22 Independent audits; minimum standards; advisory committee; report in lieu of
audit. The board of directors of each state bank shall at least once in each calendar year
have an audit made of its books and affairs, including any accounts held in a fiduciary capacity,
by independent auditors approved by the superintendent. These may be separate audits. "Independent
auditors" shall include the audit staff of a correspondent bank or the audit staff of
a bank holding company, or auditors or accountants who are not employees of the bank. The
superintendent shall by regulation establish minimum standards for audits and reports, which
shall include such matters as he shall require. To assist in promulgating minimum standards
for audits and reports, the superintendent shall appoint an advisory committee of no less
than six members. Membership of the committee shall consist of auditors, as qualified in Chapters
1A through 12A of this title, who regularly perform audits in banks...
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5-6A-1
Section 5-6A-1 Directors of banks to own stock in bank; citizenship and residence of directors.
Not less than 75 percent of the directors of a bank shall, during their whole term of service,
be citizens of the United States. Every director of a bank shall be the owner and holder of
shares of stock in the bank or parent bank holding company. Every director shall hold such
shares in his or her own name, unpledged and unencumbered in any way except statutory lien
which might attach in favor of such corporation. No person convicted of a felony or a crime
involving moral turpitude shall serve as a director. At least 51 percent of the directors
of every bank shall be residents of the state. Any director at any time violating any of the
provisions of this section shall be removed from office by the board of directors or by the
superintendent when the facts are made known to the superintendent. (Acts 1980, No. 80-658,
§5-6-1; Act 98-244, p. 403, §1.)...
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5-13B-131
Section 5-13B-131 Establishment of interstate branches in this state by out-of-state foreign
banks. (a) Except as provided in subsection (b), an out-of-state foreign bank may establish
an interstate Alabama state branch in the same manner, including by merger or other transactions
under Section 44 of the Federal Deposit Insurance Act, and comparable provisions of the laws
of this state, with Alabama banks or other institutions, as, and subject generally to the
same criteria, standards, conditions, requirements, and procedures applicable to the establishment
of interstate branches in this state by, an out-of-state bank having the same home state in
the United States, notwithstanding any provision of the laws or regulations of this state
to the contrary. (b) Notwithstanding the provisions of subsection (a), the superintendent:
(1) Shall apply to the establishment of an initial interstate Alabama state branch, and subsequent
intrastate Alabama branches, of any out-of-state foreign bank...
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5-2A-8
Section 5-2A-8 Superintendent - Promulgation and interpretation of regulations. The superintendent
may, with the concurrence of a majority of the members of the State Banking Board or as otherwise
provided in this title, promulgate such reasonable regulations, consistent with the laws of
this state, as may be necessary to carry out the provisions of this title over which the State
Banking Department has jurisdiction. The superintendent shall, in addition, issue written
interpretations of banking laws and regulations. Any bank or bank holding company and any
officer or director thereof relying on any regulation or interpretation shall be fully protected
even though the same shall be thereafter ruled invalid for any reason by a court of competent
jurisdiction. (Acts 1980, No. 80-658, p. 1259, §5-2-10; Acts 1985, No. 85-457, p. 425, §3;
Acts 1995, No. 95-115, p. 134, §69; Act 2013-352, p. 1261, §1.)...
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